|
|
This is week 59 of our job loss report. Inflation and interest rate hikes are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses.
Pressured by the impact of higher interest rates on the mortgage business, Wall Street deal-making and funding costs, the next five largest U.S. banks after JPMorgan Chase have cut a combined 20,000 positions so far this year, according to company filings.
● Pfizer – No #, $3.5 billion worth of cuts
● British Steel – 2,000
● Google – 36
● Credit Suisse – 10 percent of support staff
● Expedia – 100
● Stack Overflow – 28 percent
● Zen Studios – 32
● Jabil – 140
● Nokia – 14,000
● Scotiabank – 3 percent
● BrainStorm Cell Therapeutics – 12
● Minnesota and Wisconsin domestic violence shelters – layoffs likely
● Media Molecule – 20
● Curaleaf Holdings – No #
● Germania Insurance – 35
● Ford Motor Co. in Sterling Heights – 67
● Tyson in Wilkes County NC – 173
● American General Media – 20
● GoDaddy – No #
● Roblox ( China ) – 15
● AMD ( China ) – 300 to 450
● PlayStation’s Visual Arts – No #
● Morgan Olson Danville Location – Layoffs coming soon
● PeaceHealth University District Hospital – 400+ facing layoffs
● St. Louis developer Green Street Real Estate Ventures – No #
● Tropic – 26
● Sharonville Ford Transmission plant – 360
● Align Technology – 100’s
● Stellantis – 100
● Product Hunt – 60 percent
● Bullhorn – 144
● Ford – 150 more layoffs, as strike enters day 35
● Geico – 2,000
● LegalZoom in Austin – 100
● AgBiome – up to 123 layoffs possible
● Beam Therapeutics – 100
● Pinball Game Developer Zen Studios – 32
● Healthcare Startup Plume – 24
● Jabil in Fremont – 140
● Larch Corrections Center – No #
● Marsden Building Maintenance AT Minneapolis-St. Paul International Airport – 219 but some will be offered new positions with new contractor
● Thought Pennies Game Developer – Several Layoffs reported
● New York City Health + Hospitals – to cut 1,500 Contract RN by 2Q of 2025
● Cardinal Health in Nebraska – 24
● NYX in New Albany Indiana – 100
● BMO Milwaukee Tower – 44